India cenbank says Yes Bank's Kapoor can remain CEO until Jan 2019

Yes Bank shareholders had voted in June to extend Kapoor’s term as CEO and managing director for three years, but the lender had been awaiting approval for the plan from the Reserve Bank of India (RBI).

Media reports have previously said the RBI has been enquiring about Yes Bank’s regulatory compliance.

Its board of directors will meet on Sept. 25 to decide on the future course of action, it said in a statement bit.ly/2Dd9TqT.

Yes Bank did not elaborate on the RBI’s directive when contacted by Reuters. The RBI did not immediately respond to a request for comment. (Reporting By Arnab Paul in Bengaluru; Editing by Sai Sachin Ravikumar)